1) The art of diminishing one's integrity and/or self respect in order to personally gain from the experience.

2) Just totally making a mess of yourself in front of other people.

person 1: 'shit she just drank someone else's urine for twenty quid
person 2: 'it's not as bad as that time she sucked on a dead fish for free drinks though'
person 1 'that's Classic Fenner, what a douche'